ALK-Abelló
ALK enters into license agreement regarding new and unique diagnostic product for penicillin allergy
ALK-Abelló 14.07.2011 11:32 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Summary: ALK enters into an agreement with AllerQuest to develop and market a new and unique diagnostic product for penicillin allergy. With the agreement ALK receives exclusive global commercial rights for the product that will complement PRE-PEN(R) currently licensed from AllerQuest and marketed by ALK in the USA. Copenhagen, 2011-07-14 11:32 CEST (GLOBE NEWSWIRE) -- ALK and AllerQuest have entered into an agreement to develop and market a new diagnostic product for penicillin allergy. The new product - Minor Determinant Mixture (MDM) - currently being developed by AllerQuest will complement PRE-PEN(R) and provide for a complete and unique penicillin allergy diagnosis. Currently, PRE-PEN(R) is used in the USA in combination with other diagnostic products to ensure a complete test of penicillin allergy patients. The availability of MDM is expected to improve and to enhance diagnosis of penicillin allergy significantly and simplify the testing procedure with an easy to use uni-dosed kit for all kinds of clinics and hospitals. Millions of patients believe they are allergic to penicillin. However, it is estimated that only approximately one in ten of these patients is actually allergic. If not diagnosed properly, patients who believe to be allergic to penicillin will be treated with broad spectrum antibiotics. Improved diagnosis can limit the use of broad spectrum antibiotics, thereby lowering treatment costs and the risk of developing multi drug resistant bacteria. At present, ALK distributes PRE-PEN(R) in the USA. PRE-PEN(R) is developed by the US based company AllerQuest. 'PRE-PEN(R) has been acknowledged by allergy specialists to be a valuable diagnostic product. With the new product we will be able to offer an even more comprehensive and more simple test for all penicillin allergies to the benefit of both patients and the health care system,' says President and CEO Jens Bager, ALK. Currently, PRE-PEN(R) is not registered and marketed in Europe. The combination of PRE-PEN(R) and the new diagnostic product (MDM) will have global market potential. As with PRE-PEN(R), ALK will become exclusive distributor with global rights. In total, ALK will pay up to USD 3.45 million for the exclusive distribution rights to MDM as well as the extension of the exclusive distribution rights of PRE-PEN(R). Payments will be made in several instalments linked to the successful development and market launch of MDM. The clinical development programme is expected to be concluded in 2012 after which a registration application will be submitted to the US health authorities, the FDA. This announcement does not change ALK's financial expectations for 2011. ALK-Abelló A/S Jens Bager President and CEO For further information please contact: Jens Bager, President and CEO, tel. +45 4574 7576 About PRE-PEN(R) PRE-PEN(R) is a diagnostic product for penicillin allergy. PRE-PEN(R) is the only FDA approved skin test for the diagnosis of penicillin allergy. It is developed by AllerQuest and distributed by ALK. At the moment, PRE-PEN(R) is only available in the USA. 30 million Americans believe they are allergic to penicillin. Further information is available at www.pre-pen.com. About AllerQuest AllerQuest's mission is to develop skin test reagents to safely and accurately identify patients who are at risk for potentially life-threatening reactions to penicillin antibiotics. The company strives to ensure a reliable source of high quality test reagents to assist physicians in the diagnosis of penicillin allergy. Further information is available at www.allerquest.com. About ALK ALK is a research-driven global pharmaceutical company focusing on allergy prevention, diagnosis and treatment. ALK is the world leader in allergy immunotherapy - a unique treatment of the underlying cause of allergy. The company has approximately 1,700 employees with subsidiaries, production facilities and distributors worldwide. ALK has entered into partnership agreements with Merck and Torii Pharmaceutical Co. Ltd. to commercialise allergy immunotherapy tablets in North America and Japan, respectively. The company is headquartered in Hørsholm, Denmark, and listed on the NASDAQ OMX Copenhagen A/S. Find more information at www.alk-abello.com. Investor Relations: Per Plotnikof, mobile +45 2261 2525 Press: Martin Barlebo, mobile +45 2064 1143 News Source: NASDAQ OMX 14.07.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ALK-Abelló Denmark Phone: Fax: E-mail: Internet: ISIN: DK0060027142 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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